Common use of Additional Adjustment Clause in Contracts

Additional Adjustment. If Dealer (or an affiliate of Dealer) determines, in its commercially reasonable judgment, that its actual cost, excluding the federal funds or other interest rate component payable by the relevant stock lender to Dealer or such affiliate, over any 10 consecutive Scheduled Trading Day period of borrowing a number of Shares equal to the Number of Shares to hedge in a commercially reasonable manner its exposure to the Transaction exceeds a weighted average rate equal to 25 basis points per annum, the Calculation Agent shall reduce the Forward Price to compensate Dealer for the amount by which such cost exceeded a weighted average rate equal to 25 basis points per annum during such period. The Calculation Agent shall notify Counterparty prior to making any such adjustment to the Forward Price. Extraordinary Events: In lieu of the applicable provisions contained in Article 12 of the Equity Definitions, the consequences of any Extraordinary Event (including, for the avoidance of doubt, any Merger Event, Tender Offer, Nationalization, Insolvency, Delisting, or Change In Law) shall be as specified below under the headings “Acceleration Events” and “Termination Settlement” in Paragraphs 7(f) and 7(g), respectively. Notwithstanding anything to the contrary herein or in the Equity Definitions, no Additional Disruption Event will be applicable except to the extent expressly referenced in Paragraph 7(f)(iv) below. The definition of “Tender Offer” in Section 12.1(d) of the Equity Definitions is hereby amended by replacing “10%” with “15%”. Non-Reliance: Applicable Agreements and Acknowledgments: Regarding Hedging Activities: Applicable

Appears in 2 contracts

Sources: Forward Confirmation (Curbline Properties Corp.), Forward Confirmation (Curbline Properties Corp.)

Additional Adjustment. If If, in Dealer’s commercially reasonable judgment, the actual cost to Dealer (or an affiliate of Dealer) determines, in its commercially reasonable judgment, that its actual cost, excluding the federal funds or other interest rate component payable by the relevant stock lender to Dealer or such affiliate), over any 10 consecutive Scheduled Trading Day period period, of borrowing a number of Shares equal to the Number of Shares to hedge in a commercially reasonable manner its exposure to the this Transaction exceeds a weighted average rate equal to 25 [*] basis points points6 per annum, the Calculation Agent shall reduce the Forward Price in order to compensate Dealer for the amount by which such cost exceeded a weighted average rate equal to 25 [*] basis points points7 per annum during such period. The Calculation Agent shall notify Counterparty prior to making any such adjustment to the Forward Price. 6 As agreed by the parties for each Transaction 7 As agreed by the parties for each Transaction Extraordinary Events: In lieu of the applicable provisions contained in Article 12 of the Equity Definitions, the consequences of any Extraordinary Event (including, for the avoidance of doubt, any Merger Event, Tender Offer, Nationalization, Insolvency, Delisting, or Change In Law) shall be as specified below under the headings “Acceleration Events” and “Termination Settlement” in Paragraphs 7(f) and 7(g), respectively. Notwithstanding anything to the contrary herein or in the Equity Definitions, no Additional Disruption Event will be applicable except to the extent expressly referenced in Paragraph 7(f)(iv) below. The definition of “Tender Offer” in Section 12.1(d) of the Equity Definitions is hereby amended by replacing “10%” with “15%”. .” Non-Reliance: Applicable Agreements and Acknowledgments: Regarding Hedging Activities: Applicable

Appears in 1 contract

Sources: Equity Distribution Agreement (Four Corners Property Trust, Inc.)

Additional Adjustment. If If, in Dealer’s commercially reasonable judgment, the actual cost to Dealer (or an affiliate of Dealer) determines, in its commercially reasonable judgment, that its actual cost, (excluding the federal funds any balance sheet charges or other interest rate component payable funding costs incurred by the relevant stock lender to Dealer or such affiliateparty), over any 10 15 consecutive Scheduled Trading Day period day period, of borrowing a number of Shares equal to the Number of Shares to hedge in a commercially reasonable manner its exposure to the this Transaction exceeds a weighted average rate equal to 25 basis points per annum, the Calculation Agent shall reduce the Forward Price in order to compensate Dealer for the amount by which such cost exceeded a weighted average rate equal to 25 basis points per annum during such period. The Calculation Agent shall notify Counterparty prior to making any such adjustment to the Forward Price. Extraordinary Events: Extraordinary Events: In lieu of the applicable provisions contained in Article 12 of the Equity Definitions, the consequences of any Extraordinary Event (including, for the avoidance of doubt, any Merger Event, Tender Offer, Nationalization, Insolvency, Delisting, or Change In Law) shall be as specified below under the headings “Acceleration Events” and “Termination Settlement” in Paragraphs 7(f7(e) and 7(g7(f), respectively. Notwithstanding anything to the contrary herein or in the Equity Definitions, no Additional Disruption Event will be applicable except to the extent expressly referenced in Paragraph 7(f)(iv) below. The definition of “Tender Offer” in Section 12.1(d) of the Equity Definitions is hereby amended by replacing “10%” with “1525%”. Non-Reliance.” Failure to Deliver: Applicable Agreements and Acknowledgmentswith respect to a Transaction if Dealer is required to deliver Shares under such Transaction; otherwise, Not Applicable Hedging Party: Regarding Hedging Activities: ApplicableDealer or an affiliate of Dealer that is involved in the hedging of the Transaction for all applicable Additional Disruption Events.

Appears in 1 contract

Sources: Confirmation (Sempra Energy)

Additional Adjustment. If If, in Dealer’s commercially reasonable judgment, the actual cost to Dealer (or an affiliate of Dealer) determines, in its commercially reasonable judgment, that its actual cost, excluding the federal funds or other interest rate component payable by the relevant stock lender to Dealer or such affiliate), over any 10 consecutive Scheduled Trading Day period one week period, of borrowing a number of Shares equal to the Number of Shares to hedge in a commercially reasonable manner its exposure to the this Transaction exceeds a weighted average rate equal to 25 [] basis points per annum, the Calculation Agent shall reduce the Forward Price in order to compensate Dealer for the amount by which such cost exceeded a weighted average rate equal to 25 [] basis points per annum during such period. The Calculation Agent shall notify Counterparty prior to making any such adjustment to the Forward Price. Extraordinary Events: Extraordinary Events: In lieu of the applicable provisions contained in Article 12 of the Equity Definitions, the consequences of any Extraordinary Event (including, for the avoidance of doubt, any Merger Event, Tender Offer, Nationalization, Insolvency, Delisting, or Change In Law) shall be as specified below under the headings “Acceleration Events” and “Termination Settlement” in Paragraphs 7(f) and 7(g), respectively. Notwithstanding anything to the contrary herein or in the Equity Definitions, no Additional Disruption Event will be applicable except to the extent expressly referenced in Paragraph 7(f)(iv) below. The definition of “Tender Offer” in Section 12.1(d) of the Equity Definitions is hereby amended by replacing “10%” with “15%”. .” Non-Reliance: Applicable Agreements and Acknowledgments: Acknowledgments Regarding Hedging Activities: Applicable

Appears in 1 contract

Sources: Sales Agreement (Preferred Apartment Communities Inc)

Additional Adjustment. If If, in Dealer’s commercially reasonable judgment, the actual cost to Dealer (or an affiliate of Dealer) determines, in its commercially reasonable judgment, that its actual cost, excluding the federal funds or other interest rate component payable by the relevant stock lender to Dealer or such affiliate), over any 10 consecutive Scheduled Trading Day period period, of borrowing a number of Shares equal to the Number of Shares to hedge in a commercially reasonable manner its exposure to the Transaction exceeds a weighted average rate equal to 25 [•] basis points per annum, the Calculation Agent shall reduce the Forward Price to compensate Dealer for the amount by which such cost exceeded a weighted average rate equal to 25 [•] basis points per annum during such period. The Calculation Agent shall notify Counterparty prior to making any such adjustment to the Forward Price. Extraordinary Events: Extraordinary Events: In lieu of the applicable provisions contained in Article 12 of the Equity Definitions, the consequences of any Extraordinary Event (including, for the avoidance of doubt, any Merger Event, Tender Offer, Nationalization, Insolvency, Delisting, or Change In Law) shall be as specified below under the headings “Acceleration Events” and “Termination Settlement” in Paragraphs 7(f) and 7(g), respectively. Notwithstanding anything to the contrary herein or in the Equity Definitions, no Additional Disruption Event will be applicable except to the extent expressly referenced in Paragraph 7(f)(iv) below. The definition of “Tender Offer” in Section 12.1(d) of the Equity Definitions is hereby amended by replacing “10%” with “15%”. .” Non-Reliance: Applicable 7 Agreements and Acknowledgments: Acknowledgments Regarding Hedging Activities: Applicable

Appears in 1 contract

Sources: Equity Sales Agreement (Kimco Realty OP, LLC)

Additional Adjustment. If If, in Dealer’s commercially reasonable judgment, the actual cost to Dealer (or an affiliate of Dealer) determines, in its commercially reasonable judgment, that its actual cost, excluding the federal funds or other interest rate component payable by the relevant stock lender to Dealer or such affiliate), over any 10 20 consecutive Scheduled Trading Day period Days, of borrowing a number of Shares equal to the Number of Shares to hedge in a commercially reasonable manner its exposure to the any Transaction exceeds a weighted average rate equal to 25 basis points per annumthe Initial Stock Borrow Rate (as set forth in the relevant Transaction Supplement), the Calculation Agent shall reduce the Forward Price to compensate Dealer for the amount by which such cost exceeded a weighted average rate equal to 25 basis points per annum the Initial Stock Borrow Rate (as set forth in the relevant Transaction Supplement) during such period. The Calculation Agent shall notify Counterparty prior to making any such adjustment to the Forward Price. Extraordinary Events: In lieu of the applicable provisions contained in Article 12 of the Equity Definitions, the consequences of any Extraordinary Event (including, for the avoidance of doubt, any Merger Event, Tender Offer, Nationalization, Insolvency, Delisting, Delisting or Change In Law) shall be as specified below under in the headings “Acceleration Events” and the “Termination Settlement” in Paragraphs provisions of Paragraph 7(f) and Paragraph 7(g)) of this Master Confirmation Agreement, respectively, below. Notwithstanding anything to the contrary herein or in the Equity Definitions, no Additional Disruption Event will be applicable applicable, except Failure to Deliver or except to the extent expressly referenced in Paragraph 7(f)(iv) of this Master Confirmation Agreement below. The definition of “Tender Offer” in Section 12.1(d) of the Equity Definitions is hereby amended by replacing “10%” with “15%”. .” Non-Reliance: Applicable Agreements and Acknowledgments: Acknowledgments Regarding Hedging Activities: Applicable Additional Acknowledgments: Applicable

Appears in 1 contract

Sources: Atm Equity Offering Sales Agreement (Lithia Motors Inc)

Additional Adjustment. If Dealer (or an affiliate of Dealer) determinesIf, in its Dealer’s commercially reasonable judgment, that its the actual cost, excluding the federal funds or other interest rate component payable by the relevant stock lender cost to Dealer (or such its affiliate), over any 10 consecutive Scheduled Trading Day period period, of borrowing a number of Shares equal to the Number of Shares to hedge in a commercially reasonable manner its exposure to the applicable Transaction exceeds a weighted average rate equal to 25 basis points per annumthe “Borrow Cost Threshold” as specified in the Supplemental Confirmation, the Calculation Agent shall reduce the Forward Price to compensate Dealer for the amount by which such cost exceeded a weighted average rate equal to 25 basis points per annum the Borrow Cost Threshold during such period. The Calculation Agent shall notify Counterparty prior to making any such adjustment to the Forward Price. Extraordinary Events: In lieu of the applicable provisions contained in Article 12 of the Equity Definitions, the consequences of any Extraordinary Event (including, for the avoidance of doubt, any Merger Event, Tender Offer, Nationalization, Insolvency, Delisting, or Change In Law) shall be as specified below under the headings “Acceleration Events” and “Termination Settlement” in Paragraphs 7(f) and 7(g), respectively. Notwithstanding anything to the contrary herein or in the Equity Definitions, no Additional Disruption Event will be applicable except to the extent expressly referenced in Paragraph 7(f)(iv) below). The definition of “Tender Offer” in Section 12.1(d) of the Equity Definitions is hereby amended by replacing “10%” with “15%”. .” Non-Reliance: Applicable Agreements and Acknowledgments: Regarding Hedging Activities: Applicable

Appears in 1 contract

Sources: Master Atm Forward Confirmation (California Water Service Group)

Additional Adjustment. If If, in Dealer’s commercially reasonable judgment, the stock loan fee to Dealer (or an affiliate of Dealer) determines, in its commercially reasonable judgment, that its actual cost), excluding the federal funds or other interest rate component payable by the relevant stock lender to Dealer or such affiliate, over any 10 20 consecutive Scheduled Trading Day period Days, of borrowing a number of Shares equal to the Number of Shares to hedge in a commercially reasonable manner its exposure to the this Transaction exceeds a weighted average rate equal to 25 [__]8 basis points per annum, the Calculation Agent shall reduce the Forward Price in order to compensate Dealer for the amount by which such cost exceeded a weighted average rate equal to 25 [__]9 basis points per annum during such period. The Calculation Agent shall notify Counterparty prior to making any such adjustment to the Forward Price. Extraordinary Events: Extraordinary Events: In lieu of the applicable provisions contained in Article 12 of the Equity Definitions, the consequences of any Extraordinary Event (including, for the avoidance of doubt, any Merger Event, Tender Offer, Nationalization, Insolvency, Delisting, or Change In Law) shall be as specified below under the headings “Acceleration Events” and “Termination Settlement” in Paragraphs 7(f) and 7(g), respectively. Notwithstanding anything to the contrary herein or in the Equity Definitions, no Additional Disruption Event will be applicable except to the extent expressly referenced in Paragraph Section 7(f)(iv) below. The definition of “Tender Offer” in Section 12.1(d) of the Equity Definitions is hereby amended by replacing “10%” with “15%”. .” Non-Reliance: Applicable Agreements and Acknowledgments: Acknowledgments Regarding Hedging Activities: Applicable Additional Acknowledgments: Applicable

Appears in 1 contract

Sources: Sales Agreement (Phillips Edison & Company, Inc.)

Additional Adjustment. If For each Transaction, if Dealer (or an affiliate of Dealer) determines, in its commercially reasonable judgment, that its actual cost, excluding the federal funds or other interest rate component payable by the relevant stock lender to Dealer or such affiliate, over any 10 consecutive Scheduled Trading Day period of borrowing a number of Shares equal to the Number of Shares to hedge in a commercially reasonable manner its exposure to the such Transaction exceeds a weighted average rate equal to 25 basis points per annumthe Initial Stock Loan Fee, then the Calculation Agent shall reduce the Forward Price to compensate Dealer for the amount by which such cost exceeded a weighted average rate equal to 25 basis points per annum the Initial Stock Loan Fee during such period. The Calculation Agent shall notify Counterparty prior to making any such adjustment to the Forward Price. Initial Stock Loan Fee: For each Transaction, as specified in the related Supplemental Confirmation. Extraordinary Events: In lieu of the applicable provisions contained in Article 12 of the Equity Definitions, the consequences of any Extraordinary Event (including, for the avoidance of doubt, any Merger Event, Tender Offer, Nationalization, Insolvency, Delisting, or Change In Law) shall be as specified below under the headings “Acceleration Events” and “Termination Settlement” in Paragraphs 7(f) and 7(g), respectively. Notwithstanding anything to the contrary herein or in the Equity Definitions, no Additional Disruption Event will be applicable except to the extent expressly referenced in Paragraph 7(f)(iv) below. The definition of “Tender Offer” in Section 12.1(d) of the Equity Definitions is hereby amended by replacing “10%” with “15%”. Non-Reliance: Applicable Agreements and Acknowledgments: Regarding Hedging Activities: ApplicableApplicable Annex II-13

Appears in 1 contract

Sources: Atm Equity Offering Sales Agreement (Sila Realty Trust, Inc.)

Additional Adjustment. If For each Transaction, if Dealer (or an affiliate of Dealer) determines, in its commercially reasonable judgment, that its actual cost, excluding the federal funds or other interest rate component payable by the relevant stock lender to Dealer or such affiliate, over any 10 consecutive Scheduled Trading Day period of borrowing a number of Shares equal to the Number of Shares to hedge in a commercially reasonable manner its exposure to the such Transaction exceeds a weighted average rate equal to 25 basis points per annumthe Initial Stock Loan Fee, then the Calculation Agent shall reduce the Forward Price to compensate Dealer for the amount by which such cost exceeded a weighted average rate equal to 25 basis points per annum the Initial Stock Loan Fee during such period. The Calculation Agent shall notify Counterparty prior to making any such adjustment to the Forward Price. Initial Stock Loan Fee: For each Transaction, as specified in the related Supplemental Confirmation. Extraordinary Events: In lieu of the applicable provisions contained in Article 12 of the Equity Definitions, the consequences of any Extraordinary Event (including, for the avoidance of doubt, any Merger Event, Tender Offer, Nationalization, Insolvency, Delisting, or Change In Law) shall be as specified below under the headings “Acceleration Events” and “Termination Settlement” in Paragraphs 7(f) and 7(g), respectively. Notwithstanding anything to the contrary herein or in the Equity Definitions, no Additional Disruption Event will be applicable except to the extent expressly referenced in Paragraph 7(f)(iv) below. The definition of “Tender Offer” in Section 12.1(d) of the Equity Definitions is hereby amended by replacing “10%” with “15%”. Non-Reliance: Applicable Agreements and Acknowledgments: Regarding Hedging Activities: Applicable

Appears in 1 contract

Sources: Atm Equity Offering Sales Agreement (Curbline Properties Corp.)

Additional Adjustment. If If, in Dealer’s commercially reasonable judgment, the actual cost to Dealer (or an affiliate of Dealer) determines, in its commercially reasonable judgment, that its actual cost, excluding the federal funds or other interest rate component payable by the relevant stock lender to Dealer or such affiliate), over any 10 consecutive Scheduled Trading Day period period, of borrowing a number of Shares equal to the Number of Shares to hedge in a commercially reasonable manner its exposure to the this Transaction exceeds a weighted average rate equal to 25 [*]basis points points6 per annum, the Calculation Agent shall reduce the Forward Price in order to compensate Dealer for the amount by which such cost exceeded a weighted average rate equal to 25 [*] basis points points7 per annum during such period. The Calculation Agent shall notify Counterparty prior to making any such adjustment to the Forward Price. 6 As agreed by the parties for each Transaction 7 As agreed by the parties for each Transaction Extraordinary Events: In lieu of the applicable provisions contained in Article 12 of the Equity Definitions, the consequences of any Extraordinary Event (including, for the avoidance of doubt, any Merger Event, Tender Offer, Nationalization, Insolvency, Delisting, or Change In Law) shall be as specified below under the headings “Acceleration Events” and “Termination Settlement” in Paragraphs 7(f) and 7(g), respectively. Notwithstanding anything to the contrary herein or in the Equity Definitions, no Additional Disruption Event will be applicable except to the extent expressly referenced in Paragraph 7(f)(iv) below. The definition of “Tender Offer” in Section 12.1(d) of the Equity Definitions is hereby amended by replacing “10%” with “15%”. .” Non-Reliance: Applicable Agreements and Acknowledgments: Regarding Hedging Activities: Applicable

Appears in 1 contract

Sources: Equity Distribution Agreement (Four Corners Property Trust, Inc.)

Additional Adjustment. If ​ If, in Dealer’s commercially reasonable judgment, the actual cost to Dealer (or an affiliate of Dealer) determines, in its commercially reasonable judgment, that its actual cost, excluding the federal funds or other interest rate component payable by the relevant stock lender to Dealer or such affiliate), over any 10 consecutive Scheduled Trading Day period one month period, of borrowing a number of Shares equal to the Number of Shares to hedge in a commercially reasonable manner its exposure to the this Transaction exceeds a weighted average rate equal to 25 [●] basis points per annum, the Calculation Agent shall reduce the Forward Price in order to compensate Dealer for the amount by which such cost exceeded a weighted average rate equal to 25 [●] basis points per annum during such period. The Calculation Agent shall notify Counterparty prior to making any such adjustment to the Forward Price. Extraordinary Events: ​ ​ Extraordinary Events: ​ In lieu of the applicable provisions contained in Article 12 of the Equity Definitions, the consequences of any Extraordinary Event (including, for the avoidance of doubt, any Merger Event, Tender Offer, Nationalization, Insolvency, Delisting, or Change In Law) shall be as specified below under the headings “Acceleration Events” and “Termination Settlement” in Paragraphs 7(f) and 7(g), respectively. Notwithstanding anything to the contrary herein or in the Equity Definitions, no Additional Disruption Event will be applicable except to the extent expressly referenced in Paragraph 7(f)(iv) below. The definition of “Tender Offer” in Section 12.1(d) of the Equity Definitions is hereby amended by replacing “10%” with “15%”. Non-Reliance: Applicable Agreements and Acknowledgments: Acknowledgments Regarding Hedging Activities: ​ Applicable Additional Acknowledgments: ​ Applicable

Appears in 1 contract

Sources: Confirmation (UDR, Inc.)

Additional Adjustment. If If, in Dealer’s commercially reasonable judgment, the actual cost to Dealer (or an affiliate of Dealer) determines, in its commercially reasonable judgment, that its actual cost, excluding the federal funds or other interest rate component payable by the relevant stock lender to Dealer or such affiliate), over any 10 consecutive Scheduled Trading Day period period, of borrowing a number of Shares equal to the Number of Shares to hedge in a commercially reasonable manner its exposure to the this Transaction exceeds a weighted average rate equal to 25 [*] basis points per annum, the Calculation Agent shall reduce the Forward Price in order to compensate Dealer for the amount by which such cost exceeded a weighted average rate equal to 25 [*] basis points per annum during such period. The Calculation Agent shall notify Counterparty prior to making any such adjustment to the Forward Price. Extraordinary Events: In lieu of the applicable provisions contained in Article 12 of the Equity Definitions, the consequences of any Extraordinary Event (including, for the avoidance of doubt, any Merger Event, Tender Offer, Nationalization, Insolvency, Delisting, or Change In Law) shall be as specified below under the headings “Acceleration Events” and “Termination Settlement” in Paragraphs 7(f) and 7(g)) below, respectively. Notwithstanding anything to the contrary herein or in the Equity Definitions, no Additional Disruption Event will be applicable except to the extent expressly referenced in Paragraph 7(f)(iv) below. The definition of “Tender Offer” in Section 12.1(d) of the Equity Definitions is hereby amended by replacing “10%” with “1525%”. .” Non-Reliance: Applicable Agreements and Acknowledgments: Regarding Hedging Activities: Applicable

Appears in 1 contract

Sources: Equity Sales Agreement (W. P. Carey Inc.)

Additional Adjustment. If Dealer (or an affiliate of Dealerits affiliate) determines, in its commercially reasonable judgment, that its actual the cost, excluding the overnight bank funding rate, the federal funds or other interest rate component payable by the relevant stock lender to Dealer or such affiliatecomponent, over any 10 15 consecutive Scheduled Trading Day period period, of borrowing a number of Shares equal to the Number of Shares to hedge in a commercially reasonable manner its the exposure to a transaction substantially identical to the Transaction exceeds a weighted average rate equal to 25 [*] basis points per annum, then the Calculation Agent shall reduce the Forward Price to compensate Dealer for the amount by which such cost exceeded a weighted average rate equal to 25 [*] basis points per annum during such period. The Calculation Agent shall notify Counterparty prior to after making any such adjustment to the Forward Price; provided that (1) any such adjustment shall be made assuming Dealer maintains a commercially reasonable hedge position and (2) Dealer may not make such adjustments if such increased cost is solely due to the deterioration of the creditworthiness of Dealer. Extraordinary Events: In lieu of the applicable provisions contained in Article 12 of the Equity Definitions, the consequences of any Extraordinary Event (including, for the avoidance of doubt, any Merger Event, Tender Offer, Nationalization, Insolvency, Delisting, or Change In Law) shall be as specified below under the headings “Acceleration Events” and “Termination Settlement” in Paragraphs 7(f) and 7(g), respectively. Notwithstanding anything to the contrary herein or in the Equity Definitions, no Additional Disruption Event will be applicable except to the extent expressly referenced in Paragraph 7(f)(iv) below). The definition of “Tender Offer” in Section 12.1(d) of the Equity Definitions is hereby amended by replacing “10%” with “1520%.. Non-Reliance: Applicable Agreements and Acknowledgments: Regarding Hedging Activities: Applicable

Appears in 1 contract

Sources: Atm Equity Offering Sales Agreement (Peakstone Realty Trust)

Additional Adjustment. If If, in Dealer’s commercially reasonable judgment, the stock loan fee to Dealer (or an affiliate of Dealer) determines, in its commercially reasonable judgment, that its actual costthereof), excluding the federal funds or other interest rate component payable by the relevant stock lender to Dealer or such affiliateaffiliate (the “Stock Loan Fee”), over any 10 consecutive Scheduled Trading Day period one month period, of borrowing a number of Shares equal to the Number of Shares to hedge in a commercially reasonable manner its exposure to the this Transaction exceeds a weighted average rate equal to 25 50 basis points per annum, the Calculation Agent shall reduce the Forward Price to compensate Dealer for the amount by which such cost the Stock Loan Fee exceeded a weighted average rate equal to 25 50 basis points per annum during such period. The Calculation Agent shall notify Counterparty prior to making any such adjustment to the Forward Price. Extraordinary Events: In lieu of the applicable provisions contained in Article 12 of the Equity Definitions, the consequences of any Extraordinary Event (including, for the avoidance of doubt, any Merger Event, Tender Offer, Nationalization, Insolvency, Delisting, or Change In Law) shall be as specified below under the headings “Acceleration Events” and “Termination Settlement” in Paragraphs 7(f) and 7(g), respectively. Notwithstanding anything to the contrary herein or in the Equity Definitions, no Additional Disruption Event will be applicable except to the extent expressly referenced in Paragraph 7(f)(iv) below. The definition of “Tender Offer” in Section 12.1(d) of the Equity Definitions is hereby amended by replacing “10%” with “15%.. Non-Reliance: Applicable Agreements and Acknowledgments: Regarding Hedging Activities: Applicable

Appears in 1 contract

Sources: Forward Confirmation (Mid-America Apartments, L.P.)

Additional Adjustment. If Dealer (or an affiliate of Dealer) determinesIf, in its Dealer’s commercially reasonable judgment, that its the actual cost, excluding the federal funds or other interest rate component payable by the relevant stock lender cost to Dealer (or such its affiliate, ) over any 10 consecutive Scheduled Trading Day one month period of borrowing a number of Shares equal to the Number of Shares to hedge in a commercially reasonable manner its exposure to the Transaction exceeds a weighted average rate equal to 25 [•] basis points per annum, the Calculation Agent shall reduce the Forward Price to compensate Dealer for the amount by which such cost exceeded a weighted average rate equal to 25 [•] basis points per annum during such period. The Calculation Agent shall notify Counterparty prior to making any such adjustment to the Forward Price. Extraordinary Events: Extraordinary Events: In lieu of the applicable provisions contained in Article 12 of the Equity Definitions, the consequences of any Extraordinary Event (including, for the avoidance of doubt, any Merger Event, Tender Offer, Nationalization, Insolvency, Delisting, or Change In Law) shall be as specified below under the headings “Acceleration Events” and “Termination Settlement” in Paragraphs 7(f) and 7(g), respectively. Notwithstanding anything to the contrary herein or in the Equity Definitions, no Additional Disruption Event will be applicable except to the extent expressly referenced in Paragraph 7(f)(iv) below. The definition of “Tender Offer” in Section 12.1(d) of the Equity Definitions is hereby amended by replacing “10%” with “15%.” Hedging Party: Dealer for all applicable Additional Disruption Events. Non-Reliance: Applicable Agreements and Acknowledgments: Acknowledgments Regarding Hedging Activities: Applicable

Appears in 1 contract

Sources: Sales Agreement (Kilroy Realty, L.P.)